Fangda China Group Co., Ltd. 2016Interim Report
China Fangda Group Co., Ltd.
2016 Interim Report
Jul. 2016
Fangda China Group Co., Ltd. 2016Interim Report
I. Important Statement, Table of Contents and Definitions
The members of the Board and the Company guarantee that the interim
report is free from any false information, misleading statement or material
omission and are jointly and severally liable for the information’s truthfulness,
accuracy and integrity.
All the Directors have attended the meeting of the board meeting at which
this report was examined.
The Company will distribute no cash dividends or bonus shares and has no
reserve capitalization plan.
Mr. Xiong Jianming, the Chairman of Board, Mr. Lin Kebin, the Chief
Financial Officer, and Mr. Chen Yonggang, the manager of accounting
department declare: the Financial Report carried in this report is authentic and
completed.
Forward-looking statements involved in this report including future plans
do not make any material promise to investors. Investors should pay attention to
investment risks.
Fangda China Group Co., Ltd. 2016Interim Report
Table of Contents
I. Important Statement, Table of Contents and Definitions ......................................................................................................................2
II. Company Profile .................................................................................................................................................................................6
III Financial Highlight .............................................................................................................................................................................8
IV Board of Directors’ Report ............................................................................................................................................................... 11
V Significant Events ..............................................................................................................................................................................22
VI Changes in Share Capital and Shareholders .....................................................................................................................................28
VII Preferred Shares ..............................................................................................................................................................................33
VIII Particulars about the Directors, Supervisors, and Senior Management ..........................................................................................34
IX Financial Statements .........................................................................................................................................................................35
X Documents for Reference ................................................................................................................................................................133
Fangda China Group Co., Ltd. 2016Interim Report
Definitions
Refers
Terms Description
to
Refers
Fangda Group, company, the Company China Fangda Group Co., Ltd.
to
Refers
Articles of Association Articles of Association of China Fangda Group Co., Ltd.
to
Refers
Meeting of shareholders Meetings of shareholders of China Fangda Group Co., Ltd.
to
Refers
Board of Directors Board of Directors of China Fangda Group Co., Ltd.
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Supervisory Committee Supervisory Committee of China Fangda Group Co., Ltd.
to
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Banglin Co. Shenzhen Banglin Technologies Development Co., Ltd.
to
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Shilihe Co. Shenzhen Shilihe Investment Co., Ltd.
to
Refers
Shengjiu Co. Shengjiu Investment Ltd.
to
Refers
Fangda Jianke Shenzhen Fangda Jianke Group Co., Ltd.
to
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Fangda Automatic Shenzhen Fangda Automation System Co., Ltd.
to
Refers
Fangda New Material Fangda New Materials (Jiangxi) Co., Ltd.
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Fangda New Resource Shenzhen Fangda New Energy Co., Ltd.
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Fang SOZN Guangdong Fangda SOZN Lighting Co., Ltd.
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Shenyang Fangda Shenyang Fangda Semi-conductor Lighting Co., Ltd.
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Refers
Shenzhen Woke Shenzhen Woke Semi-conductor Lighting Co., Ltd.
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Fangda Aluminium Refers Jiangxi Fangda New Type Aluminum Co., Ltd.
Fangda China Group Co., Ltd. 2016Interim Report
to
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Dongguan Fangda New Material Dongguan Fangda New Material Co., Ltd.
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Kexunda Co. Shenzhen Kexunda Software Co., Ltd.
to
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Fangda Property Shenzhen Fangda Property Development Co., Ltd.
to
Refers
Chengdu Fangda Jianke Chengda Fangda Construction Technology Co., Ltd.
to
Refers
Shihui International Shihui International Holding Co., Ltd.
to
Refers
Shenyang Decoration Fangda Decoration Engineering (Shenyang) Co., Ltd.
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Refers
CSRC China Securities Regulatory Commission
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SZSE Shenzhen Stock Exchange
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Fangda China Group Co., Ltd. 2016Interim Report
II. Company Profile
1. Company Profile
Stock ID Fangda Group, Fangda B Stock code 000055、200055
Modified stock ID (if any) None
Stock Exchange Shenzhen Stock Exchange
Chinese name China Fangda Group Co., Ltd.
English name (if any) Fangda Group
English name (if any) CHINA FANGDA GROUP CO., LTD.
English abbreviation (if any) CFGC
Legal representative Xiong Jianming
2. Contacts and liaisons
Secretary of the Board Representative of Stock Affairs
Name Zhou Zhigang Guo Linchen
20F, Fangda Building, Kejinan 12th 20F, Fangda Building, Kejinan 12th
Address
Avenue, Hi-Tech Zone, Shenzhen Avenue, Hi-Tech Zone, Shenzhen
Tel. 86(755) 26788571 ext. 6622 86(755) 26788571 ext. 6622
Fax 86(755)26788353 86(755)26788353
Email zqb@fangda.com zqb@fangda.com
3. Other Information
1. Liaison
Changes to the Company’s registration address, office address, post code, website or email during the report period
□ Applicable √ Inapplicable
Company’s registration address, office address, post code, website or email have not changed during the report period. See Annual
Report 2015 for details.
2. Information disclosure and inquiring
Changes to the information disclosure and inquiring place
□ Applicable √ Inapplicable
Please refer to the 2015 annual report for the newspapers and websites where the Company’s information is disclosed. The inquiry
address of the interim report has remained unchanged during the report period.
Fangda China Group Co., Ltd. 2016Interim Report
3. Registration changes
Whether the registration has changed during the report period
□ Applicable √ Inapplicable
Please refer to 2015 annual report for the Company’s registration date and address, business license No., tax registration No. and
organization registration code, which have remained unchanged during the report period.
Fangda China Group Co., Ltd. 2016Interim Report
III Financial Highlight
1. Financial Highlight
The Company retroactively adjusts or restates financial statistics of the previous years because of changes in account policies and
correction of accounting errors.
□ Yes √ No
This report period Same period last year Year-on-year change (%)
Turnover (yuan) 1,009,456,049.75 1,150,115,523.53 -12.23%
Net profit attributable to shareholders of
53,156,405.36 51,317,648.87 3.58%
the listed company (yuan)
Net profit attributable to the shareholders
of the listed company and after deducting 44,265,089.57 35,487,052.40 24.74%
of non-recurring gain/loss (RMB)
Net cash flow generated by business
298,469,343.92 -274,712,071.19
operation (RMB)
Basic earnings per share (yuan/share) 0.07 0.07 0.00%
Diluted Earnings per share (yuan/share) 0.07 0.07 0.00%
Weighted average net income/asset ratio 3.99% 4.07% -0.08%
End of the report period End of last year Year-on-year change
Total asset (RMB) 5,197,762,204.44 4,464,147,811.40 16.43%
Net profit attributable to the shareholders
1,298,007,705.19 1,319,496,334.84 -1.63%
of the listed company (RMB)
2. Differences in accounting data under domestic and foreign accounting standards
1. Differences in net profits and assets in financial statements disclosed according to the international and
Chinese account standards
√ Applicable □ Inapplicable
In RMB
Net profit attributable to the shareholders of the Net profit attributable to the shareholders of the
listed company listed company
This period Last period Closing amount Opening amount
On Chinese accounting
53,156,405.36 51,317,648.87 1,298,007,705.19 1,319,496,334.84
standards
Items and amounts adjusted according International Accounting Standards
Fangda China Group Co., Ltd. 2016Interim Report
On international accounting
53,156,405.36 51,317,648.87 1,302,771,103.43 1,324,259,733.08
standards
2. Differences in net profits and assets in financial statements disclosed according to the overseas and
Chinese account standards
□ Applicable √ Inapplicable
There is no difference in net profits and assets in financial statements disclosed according to the international and Chinese account
standards during the report period.
3. Explanation of the differences in accounting data under domestic and foreign accounting standards
√ Applicable □ Inapplicable
Net assets attributable to the listed company’s shareholders calculated according to the IAS is RMB4,763,398.24 higher than
that calculated according to the domestic accounting standards, mainly attributable to the capitalization of borrow expenses before
the domestic Enterprise Accounting Standard was implemented on January 1, 2007.
3. Accidental gain/loss item and amount
√ Applicable □ Inapplicable
In RMB
Items Amount Notes
Non-current asset disposal gain/loss (including the write-off part
-2,385,055.21
for which assets impairment provision is made)
Subsidies accounted into the current income account (except the
government subsidy closely related to the enterprise’s business 1,545,204.08
and based on unified national standard quota)
Gain from entrusted investment or assets management 109,920.54
Gain/loss from change of fair value of transactional financial
asset and liabilities, and investment gains from disposal of
transactional financial assets and liabilities and sellable financial -413,383.46
assets, other than valid period value instruments related to the
Company’s common businesses
Gain/loss from change of fair value of investment property
10,576,793.91
measured at fair value in follow-up measurement
Other non-business income and expenditures other than the above 2,703,089.56
Less: Influenced amount of income tax 3,297,963.39
Influenced amount of minority shareholders’ equity
-52,709.76
(after-tax)
Fangda China Group Co., Ltd. 2016Interim Report
Total 8,891,315.79 --
Explanation statement should be made for accidental gain/loss items defined and accidental
gain/loss items defined as regular gain/loss items according to the Explanation Announcement of
Information Disclosure No. 1 - Non-recurring gain/loss mentioned.
□ Applicable √ Inapplicable
No circumstance that should be defined as recurrent profit and loss according to Explanation Announcement of Information
Disclosure No. 1 - Non-recurring gain/loss occurs in the report period.
Fangda China Group Co., Ltd. 2016Interim Report
IV Board of Directors’ Report
1. Summary
In 2016 H1, the Chinese economic growth continued slowing, while the recovery of the global economy remained weak.
Despite the adverse external economic condition, the Company has managed to realize the H1 operation target. During the report
period, despite the large number of remaining orders, the Company recorded operating revenue of RMB1,009,456,000, down 12.23%
year on year due to the weather. The net profit attributable to owners of the parent company is RMB531,564,000, up 3.58% year on
year. The net profit after deducting accidental gain/loss is RMB44,65,100, up 24.74% year on year. The earnings from main business
reached RMB298,469,300. The profit from main businesses has continued increasing in the report period. By the end of the report
period, the Company had secured orders worth RMB3,356,124,700, which 332.47% of the operating revenue in H1 2016, paving the
way for the Company to complete the whole year’s sales target.
1. Curtain wall system and material business continues growing
The Company has continued pursuing for better quality and performance and has developed a series of world-class projects. The
Company's curtain wall systems and materials have won wide recognition among customers, become one of the most popular
energy-saving high-end curtain wall system and material brands in China. In H1, the Company continues to win a larger market share
by providing customized products and focuses on the South China region with Shenzhen as the core city and customers with high
quality and creditability. In the report period, the Company has won a series of energy-saving high-end curtain wall and aluminium
plate supply contracts including the Beijing Vanke Tongzhou Taihu, Shanghai Vanke Jade Bingjiang, Wuxi Wanda Mall Phase II,
Chengdu Lingdi Center Phase II, Lanzhou International Trade Center Phase II and Shenzhen Kexing Tech Park Zone D. During the
report period, the reserve of curtain wall system and material orders reaches RMB2.193 billion, paving the way for the long-term
growth of the Company. The Company proactively organizes design, purchase, production and engineering to transfer orders of
high-end curtain wall systems and materials into operation revenue, thus lowering the impacts of the adverse weather condition in H1.
During the report period, the Company has completed projects
